Excalibur Management Corp Trims Stock Holdings in Trane Technologies plc (NYSE:TT)

Excalibur Management Corp lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,434 shares of the company’s stock after selling 210 shares during the period. Excalibur Management Corp’s holdings in Trane Technologies were worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TT. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC raised its position in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in Trane Technologies during the 4th quarter valued at about $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies in the fourth quarter worth about $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies in the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 2,318 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the completion of the transaction, the chief executive officer now directly owns 126,831 shares in the company, valued at approximately $45,427,059.27. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TT shares. Melius Research reissued a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Royal Bank of Canada upped their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Barclays decreased their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Price Performance

NYSE:TT opened at $363.90 on Wednesday. The business’s 50-day simple moving average is $360.50 and its two-hundred day simple moving average is $380.25. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The stock has a market cap of $81.62 billion, a PE ratio of 32.35, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.03%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.